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Laura Ashley Stock Falls 28%
On Warnings of 'Difficult' Year

By

Ernest Beck Staff Reporter of The Wall Street Journal

Updated April 25, 1997 12:01 a.m. ET

LONDON -- Laura Ashley Holdings PLC's stock plunged 28% after the apparel and home-furnishings retailer warned of a "difficult" year despite posting a 57% rise in pretax profit for its latest fiscal year.

The warning, at a time when the company is pursuing a risky strategy to revamp its image and reposition its shop portfolio, sent shares sliding to 104 pence ($1.69), down 41 pence, in Thursday trading on the London Stock...